Elon Musk, who acquires Twitter, intends to increase the company’s revenues by more than five times in six years. This was reported by The New York Times, with reference to the presentation to investors.
Musk plans to bring Twitter’s annual revenue to $26.4 billion by 2028. Last year, this figure was about $5 billion. Along with this, he wants to change the ratio of advertising revenues and funds received from subscriptions in favor of the latter. In six years the income from paid subscriptions should reach $10 billion.
Musk also expects that by 2028, the number of users of the social network will more than quadruple – from 217 million users by the end of 2021 to 931 million after six years. Of these, 104 million will be paid subscribers, according to Musk’s plans.
In early May, Musk said that Twitter could become paid for organizations and government agencies, and the social network will remain free for ordinary users.
On April 25, Twitter announced that Elon Musk would buy the company for $ 44 billion. According to the Securities and Exchange Commission, if Musk decided to terminate the agreement, he would have to pay Twitter a penalty of $ 1 billion. If Twitter initiated the termination, Musk would receive compensation. The final closing date of the deal is set for October 24, 2022.